Carvana (NYSE:CVNA) Price Target Increased to $118.00 by Analysts at Evercore ISI

Carvana (NYSE:CVNA) had its price target increased by Evercore ISI from $111.00 to $118.00 in a research report sent to investors on Thursday, Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

A number of other analysts have also commented on CVNA. Needham & Company LLC reiterated a hold rating on shares of Carvana in a research report on Thursday, May 2nd. Robert W. Baird lifted their price objective on Carvana from $65.00 to $110.00 and gave the stock a neutral rating in a research report on Thursday, May 2nd. Morgan Stanley lifted their price objective on Carvana from $32.00 to $45.00 and gave the stock an underweight rating in a research report on Monday, February 26th. William Blair restated an outperform rating on shares of Carvana in a report on Thursday, May 2nd. Finally, Wells Fargo & Company raised their target price on Carvana from $60.00 to $77.00 and gave the stock an equal weight rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $87.29.

Carvana Stock Performance

Shares of NYSE:CVNA opened at $109.84 on Thursday. The business has a fifty day moving average of $101.30 and a 200-day moving average of $74.61. The firm has a market cap of $22.25 billion, a PE ratio of 48.18 and a beta of 3.29. Carvana has a twelve month low of $20.60 and a twelve month high of $129.00.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.35. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $2.72 billion. On average, analysts anticipate that Carvana will post -0.75 EPS for the current fiscal year.

Insider Activity

In other Carvana news, VP Stephen R. Palmer sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $86.75, for a total value of $433,750.00. Following the sale, the vice president now owns 62,514 shares in the company, valued at approximately $5,423,089.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Carvana news, VP Stephen R. Palmer sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $86.75, for a total value of $433,750.00. Following the sale, the vice president now owns 62,514 shares in the company, valued at approximately $5,423,089.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas Taira sold 4,197 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $82.84, for a total value of $347,679.48. Following the completion of the sale, the insider now owns 164,827 shares in the company, valued at approximately $13,654,268.68. The disclosure for this sale can be found here. Insiders have sold 1,581,829 shares of company stock worth $167,561,683 in the last 90 days. Corporate insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CVNA. Blue Trust Inc. acquired a new position in shares of Carvana during the 4th quarter worth approximately $29,000. Hanseatic Management Services Inc. acquired a new position in shares of Carvana during the 3rd quarter worth approximately $34,000. Parallel Advisors LLC increased its holdings in shares of Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after acquiring an additional 194 shares during the last quarter. Tidemark LLC acquired a new position in shares of Carvana during the 4th quarter worth approximately $50,000. Finally, Plato Investment Management Ltd acquired a new position in shares of Carvana during the 1st quarter worth approximately $55,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Company Profile

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.